Entitlement Offer despatched to Shareholders
Released
Released
Announcement PDF
ASX Announcement
9 May 2023
Eligible/illegible Entitlement Offer Letters
The Company wishes to inform shareholders that letters for Eligible shareholders and
illegible shareholders (see attachments) have been despatched by Link Market Services
today.
For further information please contact:
Paul G Bibby
Managing Director
Phone +61(0) 419 449 833
www.akoravy.com
Matthew Lindh
Investor Relations
Phone +61(0) 432 363 933
mlindh@harbury.com.au
About AKORA Resources
AKORA Resources (ASX: AKO) is an exploration company engaged in the exploration and development
of the Bekisopa, Satrokala, Tratramarina and Ambodilafa Projects, all iron ore prospects in Madagascar
where AKORA holds some 308 km2 of tenements across these three prospective exploration areas.
Bekisopa Iron Ore Project is a high-grade iron ore project with an ~6km strike length and an Inferred
Resource of 194.7 million tonnes. Bekisopa has outcropping and weathered zone DSO iron ore and
potential to produce a premium grade +68% iron concentrate suitable for Direct Reduced Iron pellets for
the Green Steel future.
9 May 2023
Dear Shareholder
ENTITLEMENT OFFER
I refer to our letter dated 1 May 2023 where I advised that the Company’s Board resolved that
the Company issue new ordinary shares to its Shareholders on a non-underwritten, pro-rata
and non-renounceable basis (“Entitlement Offer”).
Under the Entitlement Offer, you are entitled to subscribe for one (1) New Share for every
five (5) Shares held on the Record Date at an issue price of $0.16 per New Share (“Offer
Price”), together with one (1) free attaching New Option for every two (2) New Shares
subscribed for and issued. For example, if you hold 1,000 shares as at the Record Date,
you will be entitled to subscribe for a maximum of 200 Shares at the Offer Price and receive
100 free Options. In the event of any fractions of Shares occur as a result of the subscription
under this Entitlement Offer, your eventual shareholding will be rounded up to the nearest
whole number. You may subscribe for some or all of your maximum entitlement under this
Entitlement Offer.
The Record Date for the purposes of the Entitlement Offer is 7:00pm (AEST Time) on
Thursday, 4 May 2023.
If all offers, the subject of the Entitlement Offer, are taken up by the Shareholders, the
Company expects to raise $2,310,087.
The Company will not be extending the offer to overseas shareholders other than NZ resident
shareholders. T he purpose of the Entitlement Offer is to raise finance to fund the
Company’s exploration and evaluation activities together with working capital needs.
The Entitlement Offer is not underwritten.
HOW TO ACCESS THE RETAIL ENTITLEMENT OFFER
You can access a copy of your personalised application form in the following ways:
ONLINE (BPAY)– Your personalised application form (including the BPAY® payment
details) can be accessed via the following https://events.miraqle.com/ako-offer. You will need
to provide your Securityholder Reference Number (SRN) or Holder Identification Number
(HIN) and postcode and follow the instructions to apply for New Shares.
ONLINE (EFT) – EFT payment can only be used by entitled New Zealand holders; details
can be accessed via the following https://events.miraqle.com/ako-offer. You will need to
provide your Securityholder Reference Number (SRN) or Holder Identification Number (HIN)
and postcode and follow the instructions to apply for New Shares.
When submitting an application via EFT, your Securityholder Reference Number (SRN) or
Holder Identification Number (HIN) must be used as reference for the payment. Your
application form and monies must be received by Akora Resources Limited (AKO) by no
later than 5pm (AEST Time) on 18 May 2023, unless this date is otherwise extended by the
Board at its sole discretion. Please return your application form via email to
capitalmarkets@linkmarketservices.com.au if you are applying via EFT otherwise your
application will not be accepted.
In the meantime, should you have any questions relating to the Entitlement Offer, please
contact Akora Resources Limited’s Share Registry, Link Market Services Limited, on +61
1300 554 474 during normal business hours.
Yours faithfully
09 May 2023
Dear Shareholder
Notification to ineligible shareholders of Entitlement Offer
AKORA Resources Limited (ACN 139 847 555) (ASX: AKO) (AKO, AKORA or the
Company) has announced to ASX Limited (ASX) a non-underwritten, pro-rata nonrenounceable rights offer (Entitlement Offer) to acquire one (1) fully paid ordinary share
(New Shares) at $0.16 per New Share for every five (5) existing shares (Entitlement) held
by the Company’s shareholders in Australia and New Zealand as at 7.00pm (AEST) on
Thursday, 4 May 2023 (Record Date).
The Entitlement Offer seeks to raise approximately $2,310,087 (before costs).
The purpose of the Entitlement Offer is to raise finance to fund the Company’s exploration
and evaluation activities together with working capital needs.
Entitlement Offer
The Entitlement Offer is being made to Eligible Shareholders who will be able to take up
their Entitlement as well as apply for additional New Shares. Shareholders who are eligible
to participate in the Entitlement Offer (Eligible Shareholders) are those who:
(a)
(b)
(c)
(d)
are registered as the holder of shares in the Company as at 7.00 pm (AEST) on the
Record Date;
have a registered address on the share register of the Company in Australia or New
Zealand;
are not in the United States and are not acting for the account or benefit of a person in
the United States; and
are eligible under all applicable securities laws to receive an offer under the Entitlement
Offer without any requirement for a prospectus or offer document to be lodged or
registered.
The Company has determined that it would be unreasonable to extend the Entitlement Offer
to Shareholders with registered addresses outside Australia and New Zealand (Ineligible
Shareholders),
Accordingly, the Entitlement Offer will not be made to Ineligible Shareholders.
No right to participate
Unfortunately, the Company has determined that you do not qualify as an Eligible
Shareholder. Accordingly, the Company wishes to advise you that it will not be
extending the Entitlement Offer to you and you will not be able to subscribe for New
Shares under the Entitlement Offer.
The purpose of this letter is to inform you about the Entitlement Offer and to explain
why you will not be able to subscribe for New Shares under the Entitlement Offer.
This letter constitutes the notice that the Company is required to give each Ineligible
Shareholder under ASX Listing Rule 7.7.1(b) and section 9A(3)(b) of the Corporations
Act 2001 (Cth).
This letter is not an offer to issue entitlements or New Shares to you, and is not an
invitation for you to apply for entitlements in New Shares. You are not required to do
anything in response to this letter.
On behalf of the Board and management of AKORA Resources Limited, we thank you for
your continued interest and support of the Company.
Yours faithfully,
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